Tax Deadline for 2016 Tax Return Extensions
This year the tax deadlines for 2016 extension returns is October 16, 2017.
Trump Changes Everything
Our president wants to change our tax regulations, yet again, to what end - well, more taxes I should imagine.
He wants to double our Standard Deduction from (say) $6,000 to $12,000 Single and from $12,000 to $24,000 Married Filing Joint. That sounds good but, Oh yes, he wants to eliminate the personal exemptions, that’s not so good. It means, in order to itemize, you need a minimum of $24,000 in expenses to qualify for the Schedule A (Itemized Deduction Form) and don’t get any exemptions for you or your children. (Not so good.)